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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2021
Fair Value Disclosures [Abstract]  
Summary of Financial Assets Measured at Fair Value On Recurring Basis by Level Within Fair Value Hierarchy

The following tables summarize the Company’s financial assets measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):

 

 

 

 

March 31, 2021

 

 

 

Valuation Hierarchy

 

Amortized Costs

 

 

Gross Unrealized Holding Gains

 

 

Gross Unrealized Holding Losses

 

 

Aggregate Fair Value

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Level 1

 

$

50,147

 

 

$

 

 

$

 

 

$

50,147

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial paper

 

Level 2

 

 

13,286

 

 

 

 

 

 

 

 

 

13,286

 

Corporate debt

 

Level 2

 

 

10,416

 

 

 

 

 

 

(6

)

 

 

10,410

 

Yankee debt securities

 

Level 2

 

 

2,023

 

 

 

 

 

 

(2

)

 

 

2,021

 

Total cash equivalents and

  short-term investments

 

 

 

$

75,872

 

 

$

 

 

$

(8

)

 

$

75,864

 

 

 

 

 

 

December 31, 2020

 

 

 

Valuation Hierarchy

 

Amortized Costs

 

 

Gross Unrealized Holding Gains

 

 

Gross Unrealized Holding Losses

 

 

Aggregate Fair Value

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

Level 1

 

$

56,056

 

 

$

 

 

$

 

 

$

56,056

 

Short-term investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

Level 1

 

 

14,999

 

 

 

1

 

 

 

 

 

 

15,000

 

Corporate debt

 

Level 2

 

 

4,898

 

 

 

 

 

 

 

 

 

4,898

 

Total cash equivalents and

  short-term investments

 

 

 

$

75,953

 

 

$

1

 

 

$

 

 

$

75,954